1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alexandra [31]
2 years ago
6

In 2017, Hurricane Irma had a significant, negative impact on the orange harvest in the state of Florida. The U. S. Department o

f Agriculture predicted that the quantity of oranges produced would be 21% lower than the previous year. If the price elasticity of demand for oranges is -1. 5, what impact would Hurricane Irma have on the price of oranges? change in the price of oranges:_______
Business
1 answer:
MaRussiya [10]2 years ago
6 0

As a result of Hurricane Irma causing the quantity of oranges to drop by 21%, the change in price of oranges will be increase of 14%.

<h3>What will be the change in price of oranges?</h3>

Price Elasticity is found as:
= Change in quantity / Change in price

You have the elasticity and the change in quantity so you can find the change in price as:

-1.5 = -21% / Price

Price x -1.5 = -21%

Price = -21% / -1.5

= 14%

In conclusion, price will increase by 14%.

Find out more on price elasticity of demand at brainly.com/question/5078326.

You might be interested in
James Sebenius, in his Harvard Business Review article: Six Habits of Merely Effective Negotiators, identifies six mistakes that
PolarNik [594]

Answer:

c. Neglecting the Other Side’s Problems.

Explanation:

To be an effective negotiator one must understand what his interest is and what he can compromise and the limits to what can be given to the other party (that is no-deal options).

It is even more important to understand the other parties problem. This can be used to guage their interest and how it can be met.

Not considering the counterparty problem is a mistake the negotiating team have made. If the other partie's problem is not understood then there won't be an effective way of negotiating.

3 0
3 years ago
A machine costs $1,000 and has a 3-year life. the estimated salvage value at the end of three years is $100. the project is expe
AnnyKZ [126]
Cost of machine = $1,000

NPV of revenues = p( \frac{1- (1+RoR)^{-n} }{RoR} ) = 600( \frac{1- (1+0.1)^{-3} }{0.1} ) = $1,492.11

NPV of salvage value = FV ( \frac{1}{ (1+RoR)^{n} } )= 100( \frac{1}{ (1+0.1)^{3} } ) = $75.13

Total NPV = -1000+1492.11+75.13 = $567.24 ≈ $567
5 0
3 years ago
Hich pricing strategy involves setting a high price for an exclusive, high-end product?
Sidana [21]
Yes, this encourages the buyer to pay more for an item especially if it is by a well known branded. This gives them to opportunity to brag and boast with their purchase. Also when the product is well known consumers are going to try their absolute best to buy it, this is going to make the product scare, hence increasing its price.
3 0
2 years ago
Atom Endeavour Co. issued $21 million face amount of 4.0% bonds when market interest rates were 4.46% for bonds of similar risk
Eduardwww [97]

Answer:

A. $840,000

B. Discount

C. Annual interest expense on these bonds will be more than  the amount of interest paid each year.

Explanation:

Data

Bonds issued = $21,000,000

Coupin rate = 4.0%

Market Interest rate = 4.46%

Requirement A: Annual interest amount

Interest amount = Bonds issued x coupon rate

Interest amount = $21,000,000 x 4.0%

Interest amount = $840,000

Requirement B: Whether it is Premium or Discount?

Bonds that Atom Endeavour Co. issued are discount as you can clearly see in the data that the market rate is higher than the coupon rate. Investors who will buy these bonds surely expect a capital gain.

Requirement C:

The discount on the issue of bonds is amortized to interest expense over the life of the bond, therefore the interest expense on these bonds will be more than the amount of interest paid each year,

3 0
3 years ago
On January 1, 2020, Harter Company had Accounts Receivable $139,000,
LuckyWell [14K]

<u>Solution and Explanation:</u>

<u>Date Particulars Post ref.         Debit ($)    Credit ($) </u>

5- Jan Accounts Receivable  20000  

Sales revenue                                                     20000

(To record the sales revenue)    

5- Jan Notes Receivable         30000  

Accounts receivable                                              30000

(To record the sales revenue)  

18- Feb Notes receivable          8000  

Sales revenue                                                         8000

(To record the notes receivable and sales revenue)  

20- April Cash                        20400  

Notes receivable                                 20000

Interest revenue                                   400

(To record the collection of notes)    

30 april Cash                           25000  

Notes receivable                                 25000

(to record the collection of payment due)    

25 May Notes receivable         6000  

Accounts receivable                            6000

( To record the note settlement of past due balance)    

18- Aug Cash account               8360  

Notes receivable                                      8000

Interest revenue                                         360

(To record the collection of notes payment)    

25- Aug Accounts receivable  6135  

Notes receivable                                      6000

Interest revenue                                         135

1-Sep Notes receivable            12000  

Sales revenue                                        12000

(To record the note for amount due)    

6 0
2 years ago
Other questions:
  • Southwestern Bank offers to lend you $50,000 at a nominal rate of 6.5%, compounded monthly. The loan (principal plus interest) m
    10·1 answer
  • Which of the following statements is true if a​ bond's stated interest rate is higher than the market​ rate?
    12·1 answer
  • Joe Hall owns a limousine for use in his personal service business of transporting passengers to airports. The limousine’s adjus
    10·1 answer
  • During 2017, Bolton Corporation acquired a mineral mine for $1,500,000 of which $200,000 was determined to be the salvage value
    14·2 answers
  • For each hour of production, a certain factory requires 1 assembly line worker for every 25 units to be produced in that hour.
    14·1 answer
  • Ford Corporation is pulling together its direct labor budget for the next two months. Each unit of output requires 0.05 direct l
    7·1 answer
  • Responsibilities of a company's management in terms of<br> risks include:
    12·1 answer
  • In which tab can you find features like New Slide, Slide Layout, and Reset Slide?
    8·1 answer
  • How important is the value of a product for a customer
    8·2 answers
  • Write an essay about Buisness skills 150 words pls <br> giving 100 points
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!